Insulet Corporation Slides on Report of Increased Adverse Events, Customer Complaints
Published: Sep 25, 2013
Investors pressure Insulet shares after a report surfaces claiming increased adverse event reports in an FDA database and rampant customer complaints. Insulet (NSDQ:PODD) shares are off some 4.5% since the end of last week, after a JMP Securities report of increase adverse event reports and rampant customer complaints for its OmniPod insulin management device. PODD shares were trading at $37.75 apiece at market's close Sept. 19, having reached a 52-week high, but fell some 5.5% the next day, to $35.69 each after JMP analysts downgraded their rating on Insulet stock to "market perform" from "market outperform."
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